Turim 21 Investimentos Ltda. Buys 17,746 Shares of Grupo Financiero Galicia S.A. $GGAL

Turim 21 Investimentos Ltda. lifted its stake in Grupo Financiero Galicia S.A. (NASDAQ:GGAL) by 74.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 41,586 shares of the bank’s stock after acquiring an additional 17,746 shares during the quarter. Grupo Financiero Galicia accounts for about 0.6% of Turim 21 Investimentos Ltda.’s investment portfolio, making the stock its 16th largest holding. Turim 21 Investimentos Ltda.’s holdings in Grupo Financiero Galicia were worth $1,942,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GGAL. Absolute Gestao de Investimentos Ltda. purchased a new stake in Grupo Financiero Galicia in the first quarter worth approximately $7,879,000. Moerus Capital Management LLC purchased a new stake in Grupo Financiero Galicia during the 1st quarter valued at $8,179,000. Bank of New York Mellon Corp raised its stake in Grupo Financiero Galicia by 2.2% during the 1st quarter. Bank of New York Mellon Corp now owns 32,382 shares of the bank’s stock valued at $1,513,000 after buying an additional 686 shares during the last quarter. Leonteq Securities AG boosted its stake in shares of Grupo Financiero Galicia by 563.2% in the 1st quarter. Leonteq Securities AG now owns 2,036 shares of the bank’s stock worth $95,000 after buying an additional 1,729 shares during the last quarter. Finally, Deltec Asset Management LLC boosted its stake in shares of Grupo Financiero Galicia by 1.6% in the 1st quarter. Deltec Asset Management LLC now owns 25,900 shares of the bank’s stock worth $1,210,000 after buying an additional 400 shares during the last quarter.

Wall Street Analysts Forecast Growth

GGAL has been the subject of a number of research reports. Zacks Research upgraded Grupo Financiero Galicia from a “strong sell” rating to a “hold” rating in a research report on Thursday, May 14th. Wall Street Zen raised Grupo Financiero Galicia from a “sell” rating to a “hold” rating in a research report on Saturday, June 27th. JPMorgan Chase & Co. boosted their price target on Grupo Financiero Galicia from $72.00 to $85.00 and gave the company an “overweight” rating in a research note on Thursday, June 25th. Finally, Weiss Ratings raised shares of Grupo Financiero Galicia from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $68.33.

Grupo Financiero Galicia Price Performance

NASDAQ:GGAL opened at $49.30 on Monday. The business’s 50-day simple moving average is $50.04 and its two-hundred day simple moving average is $48.25. Grupo Financiero Galicia S.A. has a 52 week low of $25.89 and a 52 week high of $62.51. The stock has a market cap of $7.92 billion, a PE ratio of 21.72, a P/E/G ratio of 0.34 and a beta of 1.34. The company has a quick ratio of 1.16, a current ratio of 1.13 and a debt-to-equity ratio of 0.32.

Grupo Financiero Galicia (NASDAQ:GGAL) last released its quarterly earnings data on Tuesday, May 26th. The bank reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.07). The firm had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.70 billion. As a group, analysts forecast that Grupo Financiero Galicia S.A. will post 3.74 EPS for the current fiscal year.

Insider Transactions at Grupo Financiero Galicia

In other Grupo Financiero Galicia news, Director Silvestre Vila Moret purchased 224,000 shares of the stock in a transaction that occurred on Wednesday, July 8th. The shares were bought at an average cost of $5.36 per share, with a total value of $1,200,640.00. Following the acquisition, the director owned 3,000,000 shares in the company, valued at approximately $16,080,000. This trade represents a 8.07% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last 90 days, insiders purchased 802,791 shares of company stock worth $4,253,109.

Grupo Financiero Galicia Profile

Grupo Financiero Galicia is a diversified financial services holding company headquartered in Buenos Aires, Argentina. As one of the country’s largest private-sector financial institutions, the company provides a comprehensive suite of banking, insurance and investment products to individual, small-to-medium enterprise (SME) and corporate clients. Its operations span retail and commercial banking, asset management, leasing, factoring and pension fund administration.

The core banking segment offers deposit and lending services, credit and debit cards, payment solutions and digital banking platforms.